Retest 5.1

Retest 5.1

By Nicholas Miles

Multiple Choice

Routinely paying my bills late could negatively affect my credit history. Is this statement True or False?

• True

• False

Multiple Choice

When I apply to borrow money for a car, the loan company will most likely look at my credit history. Is this statement True or False?

• True

• False

Multiple Choice

Late payments are retained on credit reports for 7 years. Is this statement True or False?

• True

• False

Multiple Choice

Brady took his family out to eat. He handed the waitress a card to purchase the meal. This charge appeared on a bill that he paid three weeks later. What type of card is this?

• Credit Card

• Debit Card

• Credit Card & Debit Card

Multiple Choice

A PIN (Personal Identification Number). What type of card is this?

• Credit Card

• Debit Card

• Credit Card & Debit Card

Multiple Choice

Hefty fees may be charged if you spend more than what is in the account. What type of card is this?

• Credit Card

• Debit Card

• Credit Card & Debit Card

Multiple Choice

Interest may be charged, but can be avoided by paying the entire balance each month. What type of card is this?

• Credit Card

• Debit Card

• Credit Card & Debit Card

Multiple Choice

You receive $500 from the local cultural society.

• scholarship

• grant

• work study

• loan

Multiple Choice

You borrowed money through a federal program to pay for your education this year.

• scholarship

• grant

• work study

• loan

Multiple Choice

You entered your painting in a contest and won $750 to pay for your college expenses.

• scholarship

• grant

• work study

• loan